The Indiana State sentinel. [volume] (Indianapolis) 1868-1895, 1887-08-24
BUSINESS OUTLOOK.
Reports Point to . Probable Wheat Yield
Slightly Lsts Tnan List Year.
stringency In the Money Markets From
Several Interior Poipts-July Ex-
ports More Satisfactory.

NEW YORK, August 19.-R. G. Dun &
Co.'S, weekly trade review has the follow
ing points: Everything now turns on
crop prospects. Considerable injury is no
longer disputed; indeed its effects are al
ready felt in diminishing demand, from
regions most affected by the drouth, for
some manufactured products. But, esti-
mates of the extent OF harm done differ
widely. Chicago and Detroit advices in
dictate that rains were too late to save
considerable portion of the corn crop, but
after declining l 1-2c on the grow
ing impression that the injury
would not prove so extensive as to
balance the increase in acreage, the price
rose as much on reports OF injury by frost
on Thursday. Latest government reports
point to probable yield slightly less than
that of last year. Wheat rose half cent
on Wednesday, but lost the advance; in
Jury to this crop does not appear import
ant, and official figures point to yield ex.
ceedirg 100000. 600 bushels, which with
stocks carried over would meet all probable
requirements.
The cotton speculation has resulted in a
further decline and while New Orleans re-
ports as to the yield are less favorable, At
lanta aud Galveston report improvement
from recent rains. The injury to rice from
drought and freshets is estimated in Sa-
vsnnah at 250,0 to 800, 900 bushels.
What may prove the most serious effect of
the long drought, the injury to the pastures
and bay crop and consequent losses in dairy
and animal product, is often overlooked.
But the movement of grain from the
northwest is remarkably large, though lake
TRANSFORMERS get the lions share of it. Buff
falo July receipts by lake have never been
exceeded but once, while the latest report
of east bound rail shipments from Chicago
is the smallest for many years.
il, 49, - ~
large earnings, $50 roads showing net
gam of II per cent for July oyer last year,
the 1eakness in securities operates to pre-
vent sales for extensions and new roads.
and thus effects the demand for rails and
iron. At Philadelphia rails seem weaker,
and a sale of 5000 TO Southern road at
| price equivalent to S37 at mill is noted.
Makers are disposed to meet foreign COM
petition, though renewal OF the compact TO
| regulate production promises to prevent
undue depression.
Pig iron is also shaded, aud IL is admit
ed that the supply seems to exceed the
demand. The monetary situation hes one
| unfayorable and several favorable features.
Stringency increases at several interior
! points, and reports of unsatisfactory or
( only fair collect ons grow more numerous.
| Bat the purchase Of bonds by the treasurer,
| the shipment of gold to Europe. and the
| sales of security abroad by Mr.. Gould and
by some German houses here, appear to
avert pressure in the market for the pres
| eDt.
Exports in July more satisfactory, and
for the past three weeks have been slightly
larger than for the came weeks of last year
and while the reports of gold on the way
from Europe are probably exaggerated, for
effect, the outward movement of securities
undoubtedly costumes. The possibility oil
| important failures resulting from recent
daring speculationS, and the chance of large
demands for money from the West and
South, are not to be safely overlooked.
TIE business failure occurring throughout
the United States and Canada during the
last seven days number for the United
States 135, and for Canada 26.